Future Entrepreneurs of America Act

Future Entrepreneurs of America Act - Amends the Elementary and Secondary Education Act of 1965 to establish a program for youth entrepreneurship education.

Directs the Secretary of Education to make grants to States for entrepreneurship education and training programs for students in grades seven through 12 (programs). Requires such grants to States in any fiscal year in which appropriations under this Act equal or exceed a specified amount.

Sets forth requirements for: (1) State plans; (2) grant allocations to States; (3) use of funds for local programs and for State monitoring, evaluation, and administrative costs; and (4) State reports.

Authorizes the Secretary to make direct grants to local educational authorities and public schools for such programs, in any fiscal year for which appropriations do not reach the level required for grants to States.

Directs the Secretary to make a competitive grant or contract for a national clearinghouse for instructional materials and information regarding exemplary entrepreneurship education and training programs and best practices.

Directs the Secretary to develop performance measures and evaluate programs assisted under this Act.

Authorizes appropriations.